Fragrance Ventures, a unit of Fragrance hotel and property group, has acquired 14 two-storey shop houses located at Pasir Panjang Road for $23 million. The row of shop houses sits on a freehold land with a total area of 2,055.9 sq m. The land is zoned “Commercial & Residential” with a maximum plot ratio of 3. Fragrance Group says the acquisition will be funded by internal funds and bank...
2009
IN WHAT appears to be confidence that the green shoots of the economic recovery are slowly bearing fruit, prices of resale Housing and Development Board (HDB) flats have hit a record high in the second quarter, and property agents say this is leading to a renewed climb in the cash-over-valuation (COV) for the secondary market transactions. The HDB reported on Friday that its resale price index rose 1.4...
Over 70 per cent or 180 units at the Meadows@Peirce condominium were sold at a private preview on Friday before the official launch next week. In a statement, property developer UOL Group said a total of 250 units were offered at the preview. The developer had initially planned to release 150 units, but it added 100 more due to overwhelming response. UOL said it will also bring forward its official...
Mainboard-listed Fragrance Group said one of its units has bought a property at Telok Kurau for S$36.5 million. The freehold land parcel has a total site area of nearly 48,000 square feet. It can yield a maximum permissible gross floor area of some 93,000 square feet. Fragrance said it plans to turn the site into a five-storey mixed development, comprising commercial shops and residential apartments. It...
Retail therapy takes an artistic twist along Orchard Road. Developers have commissioned multi-million dollar artworks to be put up at Singapore's newest mall. A two-tonne nutmeg greets shoppers at the entrance to ION Orchard. The sculpture by Singapore artist Kumari is a tribute to Orchard Road's history, when it was once a nutmeg plantation. "Urban People" is the name of six sculptures by a Swiss...
Private home prices in Singapore fell 4.7 per cent in the second quarter of this year, compared with the previous three months. Although that marked the fourth straight quarter of falls, the pace of the decline appeared to be moderating. Prices fell a record 14.1 per cent on quarter in the January to March period. The second quarter decline was also better than 5.9 per cent fall predicted in the advance...
The resale prices of HDB flats rose by 1.4 per cent in the second quarter of 2009, higher than an initial estimate of a 1.2 per cent increase made earlier this month. This comes after a slight drop of 0.8 per cent in the three months ending March. Resale transactions also increased, jumping from 6,400 cases in the first quarter to 10,000 cases in the second quarter. The median cash-over-valuation (COV)...
CapitaMall Trust (CMT) will distribute 2.13 Singapore cents per unit to unitholders in the second quarter – down 39 per cent from a year ago due to a higher number of units as a result of a recent rights issue. Excluding the adjustment for new units through the rights issue, its distribution per unit would have risen about 15 per cent. All in, the trust had S$67.9 million to distribute in the second...
DESPITE the economic recession weighing on the property market, some Singapore-listed real estate investment trusts (Reit) that posted their results yesterday maintained or raised their payouts for the quarter ended June compared to a year ago. CapitaRetail China Trust Distribution per unit (DPU) in the second quarter rose 14.1 per cent from a year earlier to 1.94 cents. Distributable income was $12...
THE sizzling-hot property market and the rush by buyers to secure choice units have led some property agents to turn greedy. Some agents are offering potential buyers their services to secure a booking for their choice units if they pay them a commission. This has prompted at least two marketing agencies to warn their agents against this practice. This scheme is reportedly rampant at the freehold...